Daily News: April 2, 2012

Cagle’s Seeks Court Permission to Sell Assets

Cagle’s Inc. is seeking permission from U.S. Bankruptcy Judge Joyce Bihary in the U.S. Bankruptcy Court in the Northern District of Georgia to sell all of its assets at an auction after accepting a bid from JCG Foods for $72.3 million. JCG Foods is an affiliate of Koch Foods Inc.

The company is asking for approval of auction guidelines, a BusinessWeek article said. The poultry producer would like to hold the auction on May 10 with a hearing the next day to approve the sale.

To read the BusinessWeek article in its entirety, click here.

Previously on abfjournal.com:

Cagle’s, Cagle’s Farms File Chapter 11; AgSouth to Provide DIP, Thursday, October 20, 2011